| The Tokyo Star Bank, Limited | |
| Type: | Public KK |
| Foundation: | 2001 |
| Location City: | Tokyo |
| Location Country: | Japan |
| Key People: | Seiji Satou, President & CEO[1] |
| Industry: | Financial services |
| Num Employees: | 1,703 (March, 2017) |
| Subsid: | TSB Capital Co. |
is a Japanese bank established on June 11, 2001 out of the reorganization of then bankrupt Tokyo Sowa Bank (founded in 1949 as Tokyo Shokusan Mujin - Mutual Loan Company) by Lone Star Funds.
In 2014, the bank was purchased by Taiwan's CTBC Financial Holding, marking the first time a foreign lender had taken complete ownership of a Japanese bank.[2]
This is a multipurpose deposit account for personal customers. Only a cash card is issued, unlike other more traditional banks which continue to utilize savings passbooks. In place of the passbook, the bank sends transaction reports monthly by post, as well as providing online banking services. Customers can take advantage of an ordinary savings account, fixed term deposit, and foreign currency deposits.
One of the biggest merits of this product is that customers may make unlimited use of ATMs without incurring a surcharge. In Japan, depositors typically pay charges when using an ATM after office hours, or using other banks' ATMs. With the Star One cash card, those charges are paid back to the customer at the beginning of the following month.
Tokyo Star Bank offers two types of card, Tokyo Star Credit and Tokyo Star Debit. Tokyo Star Credit is a typical credit card, but Tokyo Star Debit is a "Master Debit Card".
Customers can use it almost like a credit card, but the money used is immediately withdrawn from the account. Users need not worry about a credit limit, as the card can be used up to one's balance of the account (200,000 daily transaction limit).
Usually a Japanese bank would charge a higher spread and/or transaction fee to make a currency exchange transaction. Tokyo Star Bank offers competitive tight spreads for doing online currency exchange transaction. USD/JPY is the lowest of all, with a zero transaction cost in real time.